BANGKOK, July 13 (Xinhua) -- Thai authorities have closed over 351,000 "mule" bank accounts and frozen assets linked to criminal activity worth over 3.6 billion baht (about 107.74 million U.S. dollars) as part of a crackdown on the financial networks behind online scams and other economic crimes, the government said on Monday.
From October 2025 through June 2026, Thailand's government also reported the arrest of more than 29,000 scam suspects and the issuance of arrest warrants for over 70 ringleaders, resulting in the assistance of 862 victims and the prevention of losses exceeding 82 million baht (about 2.45 million dollars).
Government spokesperson Ratchada Thanadirek said the account closures and asset freezes reflect a wider strategy that goes beyond arresting individual offenders to dismantling the capital base and financial trails of criminal networks.
In a statement, Ratchada said the Thai central bank will further tighten controls on risky transactions starting in October, expanding reporting requirements to cover cash deposits exceeding 5 million baht, which must be accompanied by a declaration of the source of funds.
She said the new rules would also require justification for large currency exchanges, for instance, converting 1,000-baht notes worth 10 million baht into smaller denominations.
The spokeswoman emphasized that a previous rule requiring reports on cash withdrawals of 5 million baht or more has already cut large cash withdrawals by roughly 35 percent, while enhanced monitoring has led to the closure of thousands of additional suspect accounts. ■
